Winn-Dixie warns of earnings shortfall

Winn-Dixie said after the bell that earnings would fall well below expectations for the fourth quarter, which ends June 15. On a per-share basis, earnings will fall into a range of 28 cents to 31 cents, the grocer said. Analysts polled by Reuters Research had a consensus expectation of 38 cents a share. Sales at stores open more than year are expected to rise 3 or 4 percent in the quarter. Winn-Dixie blamed a "difficult economic and competitive environment" for the shortfall. Last week, bigger rival Albertson's
ABS, -0.22%
warned that its sales and profits were running below expectations. Shares of Winn-Dixie
WIN, -0.52%
closed up 17 cents to $14.67.

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